Frequently Asked Questions about Buying Bitcoin
1. Is it unlawful to acquire bitcoins?
In Germany, Austria, and Switzerland, purchasing Bitcoin is not prohibited.
2. What are the tax implications of Bitcoin?
Anyone who keeps Bitcoin for more than a year and then sells it does not have to pay taxes on it. It makes no difference how large the profit is.
Read more about investing in bitcoin
You can expect a tax exemption of up to €600 if you sell your bitcoins within a year of purchasing them. However, a profit of 600 euros must be taxed in full. However, keep in mind that this limit applies not just to Bitcoin, but also to other cryptocurrencies and all other private capital gains.
3. Should you buy Bitcoin or not?
The answer is unanimous in crypto circles: sure, it’s worth it! There are still some things that could be done better. Larger price rises are predicted by models like the stock-flow model. Critics, on the other hand, worry that the expansion cannot continue indefinitely. In addition, issues such as Bitcoin’s energy use are addressed.
4. Is it possible to buy bitcoin stock?
There isn’t any Bitcoin sharing in the traditional sense. Because Bitcoin is a distinct asset class, it cannot be exchanged in the same way that stocks are traded on regular stock exchanges. Many Bitcoin-based financial products, on the other hand, can be exchanged on regular exchanges.
5. What is a Bitcoin investment strategy?
A bitcoin savings plan not only assists in finding a safe and convenient way to invest in cryptocurrencies over time, but it also offers strategic benefits. You don’t have to wait for the perfect time to invest big quantities of money all at once because of the average cost impact.
6. Where can I buy and trade bitcoins without revealing my identity?
In general, it is quite difficult to buy and sell Bitcoin anonymously. To trade cryptocurrencies, you must first register with your ID and address at any online trading platform.
